LEE BOYCE: Evidence from branch advisers suggests banks and building societies are putting them under immense pressure to 'sell' products

In the last few months, This is Money has opened an ugly can of worms revealing some shocking practices within banks and building societies, as claimed by branch advisers.

Back in September I revealed a list of points targets that Lloyds TSB staff were under pressure to hit after a long chat with a disgruntled adviser, while at the same time, a This is Money reader struggled to open a savings account at Halifax after being bombarded with sales talk for a structured product.

Both of these stories went hand-in-hand together, as Lloyds owns Halifax. What entailed after this was an avalanche of advisers – not just from Lloyds TSB – but various other rivals, telling me their stories of pressure cooker environments.

Under the spotlight: The This is Money investigation has looked at Lloyds TSB, Halifax, YBS, Santander and Nationwide BS - and how branch staff operate

And it's not just been advisers - concerned customers have also been in touch.

In October, I wrote a story detailing how a Yorkshire Building Society customer took a vulnerable friend into a branch, only to be met with hard-sales talk, while last month, I printed a list of Santander branch targets sent by a whistleblower and how some staff claim they are pushed to sell certain products.

Then today, I reveal how Nationwide – which prides itself on being an alternative to the ‘big bad banks’ – has similar practices, according to some employees, with a number telling me how much pressure they are under. If they don’t sell enough, they are left facing the sack.

Since the original Lloyds TSB story, I have had contact with almost 50 advisers across the country telling similar stories of hard-pressure sales tactics – with only three defending their industry and the way they behave in branch.

One even called me, nearly in tears, saying how he was signed off from the bank he was working at due to the stress of meeting sales targets – while at the same time he was still getting round-the-clock calls and e-mails from his manager about work.

Not all banks and building societies are pushing sales and not all advisers and branch managers are bad eggs - I'm not trying to tar them all with the same brush.

The banks and building societies in question have defended their brand and have told me that customer service is key and that the incidents appear to be ‘one-offs’ and ‘disgruntled’ employees.

With the stories, as always, there have been an overwhelming number of comments from readers – all of which have been constructive, whether it be defending the industry or telling a similar story of hard-sales.

Some comments have stated that this ‘is not news.’ I don’t believe this to be the case – many people, who may not be as financially savvy as others, do not realise that every time they walk into a branch, they could be a potential target for sales vultures.

And some have commented that banks and building societies need to sell, they are after all, businesses, not charities, there to make profit.

Part of me agrees. However, target lists and pushy branch managers looking to hit, or exceed the targets, means that customers in certain branches seem to be getting poorly advised and ‘sold’ products that don’t fit their needs.

Targets: Whistleblowers have highlighted how customers are given the hard sell

I picked out some of my favourite reader comments below from the stories.

Rob from Worcester on our comments section about the Lloyds TSB article, said: ‘I have banked with Lloyds since 1976 and have no complaints, they have always been excellent. However when I paid a cheque in for £80k+ in July it took me 20 mins to get out of the branch, they were so determined to get me to invest with them. I just kept saying NO until they got the message. I suspect if you can't sell products you don't work there for long!’

While Alan from Huddersfield, on the YBS story, said: ‘All banks and building societies are under great pressure from their bosses to sell sell sell. They don't care (as if they ever have) how much damage or distress the reap upon their customers by selling the wrong (but very profitable to them) thing as long as the money comes in. BEWARE.’

Marc from the West Midlands commented on the Santander article: ‘By the way it’s not just Santander who use these strong arm sales tactics. Try any other high street financial provider and you'll get the same, dressed up in "what’s best for the customer", as long as it’s what we want you to buy.’

The five banks and building societies have not been ‘picked-on’ by This is Money – they have been investigated because they are the ones This is Money has had an large response on and wanted to delve deeper.

This is Money will keep piling the pressure

After the Lloyds TSB whistleblower claims, for example, more than 20 e-mails from various advisers told me of some of the sales practices they are under pressure to perform.

I could have probably got another 20 stories from them, but I felt like the point was made in the original story.

This is Money will keep piling on the pressure and will keep investigating claims from advisers that their bank or building society is pushing the wrong products onto customers – and will keep talking to the institutions in question to voice their side of the tale.

And Santander said it is trialling a new customer service-led system from 2013, which will remove the sales aspect from branches, while Lloyds TSB is also trialling a similar system in a handful of its branches across the country.

All I want to see is the complete return of helpful banking.

If I have a financial problem, I want my bank or building society to fix it efficiently.

If I want a savings account, I want to be told where the best rate is, not peddled a useless ‘risky’ product.

I don’t want to be seen as a target when I walk through the doors – I want to be treated with respect and not as another sales figure.

I’ll reiterate that some High Street banks and building societies already do this – but for those that do set these pressurised sales targets that do not benefit the customer, see this as a warning shot.